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Item Details
| Title:
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LOSS COVERAGE
WHY INSURANCE WORKS BETTER WITH SOME ADVERSE SELECTION |
| By: |
Guy Thomas |
| Format: |
Hardback |
| List price:
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£74.99 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
110710033X |
| ISBN 13: |
9781107100336 |
| Publisher: |
CAMBRIDGE UNIVERSITY PRESS |
| Pub. date: |
11 May, 2017 |
| Pages: |
282 |
| Description: |
This book argues that, contrary to received wisdom, some adverse selection in insurance markets is beneficial to society as a whole. |
| Synopsis: |
Most academic and policy commentary represents adverse selection as a severe problem in insurance, which should always be deprecated, avoided or minimised. This book gives a contrary view. It details the exaggeration of adverse selection in insurers' rhetoric and insurance economics, and presents evidence that in many insurance markets, adverse selection is weaker than most commentators suggest. A novel arithmetical argument shows that from a public policy perspective, 'weak' adverse selection can be a good thing. This is because a degree of adverse selection is needed to maximise 'loss coverage', the expected fraction of the population's losses which is compensated by insurance. This book will be valuable for those interested in public policy arguments about insurance and discrimination: academics (in economics, law and social policy), policymakers, actuaries, underwriters, disability activists, geneticists and other medical professionals. |
| Illustrations: |
25 b/w illus. 9 tables |
| Publication: |
UK |
| Imprint: |
Cambridge University Press |
| Returns: |
Returnable |
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